MVD Bond | Surety Bond

Type of Bond

MVD bonds are required by the state in order for a dealer to obtain a dealer license.
A MVD bond is one of the most common types of surety bonds.
Each state will have a different surety bond amount and unique bond form.

What does a MVD Bond do?

MVD bonds protect the obligee from a variety of different infractions incurred by the dealer.

Here is a list of generic examples the bond may cover:

>Misrepresentation or false, deceptive, or misleading statements with regard to the sale or financing of motor
vehicles

>Fails to pay Motor Vehicle fees

>Fails to procure a valid title

>Fails to pay State Sales Tax

Always review the state bond form and state statues for more details.

Auto Dealer bonds with State specific bond expiration dates:

Alabama Used Car Dealer Bond expiring 9/30

Florida has several different MVD bonds required for different classes of business with specific expiration dates

Florida MVD Bond expiring 4/31

Florida Franchise Dealer Bond expiring 12/31

Florida MVD Bond for Mobile Home sells expiring 9/30

Georgia MVD Bonds expire on 3/31 every even year

Illinois MVD Bond expiring 12/31

Louisiana MVD Bond expiring 12/31

Missouri MVD Bond expiring 12/31

Montana MVD Bond expiring 12/31

Nebraska MVD Bond expiring 12/31

New Jersey MVD Bond expiring 3/31

Oklahoma MVD Bond expiring 12/31

West Virgina MVD Bond expiring 6/30

Wisconsin MVD Bond expiring 12/31

States with longer bond terms

Oregon MVD Bonds have a 3 year term

Tennessee MVD Bonds have a 2 year term

Texas MVD Bonds have a 2 year term

States that require different MVD bonds or amounts

Arizona

$100,000 Arizona MVD Bond is required for New Auto Dealers and Used Auto Dealers.

$25,000 Arizona MVD Bond is required for Title Service Companies, Brokers, Wholesale and Auto Auction Dealers

$10,000 Arizona MVD Bond is required for Automotive Recyclers

California

$10,000 California Wholesale Dealer Bond the dealer must sell less than 25 vehicles per year and either be a
Motorcycle Dealer, All-Terrain Dealer or Wholesaler Dealer

$50,000 California MVD Bond (Retail dealer)

Florida

$25,000 Florida MVD Bond (General)

$10,000 Florida Recreational Vehicle Dealer Bond

$25,000 Florida Mobile Home Dealer Bond

NEW PROGRAM FOR FLORIDA MVD BONDS 2% RATE ($500)

NO COLLATERAL

NO PERSONAL FINANCIAL NEEDED

SUBJECT TO CREDIT REPORT AND CREDIT SCORE ABOVE 675

Different names same bond type:

To help clarify any confusion, a Motor Vehicle Dealer Bond / MVD Bond are referred to by a variety of different
names. It is also called a DMV Bond, Auto Dealer Bond, Dealer Bond, and Used Car Dealer Bond.

Program

Program: Our agency currently has several specialty programs that can help you place your MVD Bond.

MVD Bonds are an extension of credit, like a loan your rate will be based upon your credit
situation. Most surety agencies will decline your bond submission if you don't have a 700 credit score, but our
company is different. We can help you in almost any credit or financial situation. Our rates start at 1% to 3% for
most surety bonds. If your credit has taken a beating the rates start at 4% to 25%.